DeFi updates: Chainlink receives more use cases as Trace network and Curate incorporates its reliable price feeds.
In general, the decentralized finance (DeFi) space experienced several important DeFi updates last week. One of which is Polygon overtaking Ethereum Network in terms of use cases. Injective Labs partnership with MDEXTech and SWFT Blockchain plan to launch a DEX aggregator platform are also other top DeFi updates that took place last week.
1. Polygon | OKex Partnership
Decentralized technology scalability platform Polygon (formerly Matic) entered a strategic partnership with OKex last week. The partnership is aimed at facilitating interoperability among both platforms. Therefore, making it possible for users to securely, cheaply, and, effortlessly transfer funds between both networks. Due to the partnership, OKex is now one of the foremost cryptocurrency exchanges to interact with Polygon.
It is important to note that the partnership currently supports 23 cryptos. Some of these cryptos include SUSHI, USDT. USDC, TUSD, PEX, LINK, UNI, USDK, BAL, BAT, CEL, ETH, DAI, etc.
🔥@OKEx, a world-leading cryptocurrency spot and derivatives exchange has integrated Polygon for quick and cost-efficient access to DeFi!
🏎 This means that users can withdraw 23 assets directly to Polygon, at extremely low costs and high speeds.
🌐 https://t.co/DT6RcGF3Uh pic.twitter.com/Gp7mxVSBkB
— Polygon – MATIC 💜 (@0xPolygon) June 9, 2021
2. SWFT Blockchain to Launch DEX Aggregator Platform
Next-gen, cross-chain, payment network, SWFT, has disclosed an interest in the DeFi space. According to the platform, it has disclosed plans to launch a DEX aggregator platform. One that will function as a top-notch “[…] CeFi + DeFi combo with the best rates from centralized and decentralized exchanges in one place.” This will, however, only be possible with the presence of a governance token – a role SWFT Blockchain native token SWFT Coin (SWFTC) will take on. More details of the launch will be released in the near future.
3. Trace Network Incorporates Chainlink VRF
Trace network is gearing up for its IDO launch expected to take place on SushSwap, on June 15, 2021. In line with this, it recently partnered with Chainlink VRF to ensure fairness and transparency throughout its IDO whitelist process.
According to Trace network, Chainlink VRF was the obvious choice due to security, transparency, trustlessness, reliability, etc. The upcoming IDO was oversubscribed by an estimated 250x in just 48 hours.
1/ @trace_network will use @chainlink Randomizer for $TRACE IDO #Whitelisting lottery process. It guarantees fairness & transparency removing any possibility of tampering with TRACE IDO whitelisting process.
Read more about it here: https://t.co/xGP9ENuD0H#NFT #BlingItUp
— Trace Network Labs (@trace_network) June 12, 2021
4. Polygon Network Surpasses Ethereum Use Cases
Decentralized tech scalability platform Polygon (formerly known as Matic Network) has been at the forefront of DeFi adoption in recent times. The platform continues to record outstanding growth as more into its ecosystem.
According to cryptoanalysis platform DappRadar, Polygon last week surpassed Ethereum Network in terms of use cases.
.@AaveAave on @0xPolygon processes transactions worth $6,75 billion – almost triple that on @ethereum.https://t.co/EMV0Birg6u
— DappRadar (@DappRadar) June 13, 2021
5. WePiggy Launch NFT Gallery
Open-source, crypto-asset, lending marketplace WePiggy has announced the launch of phase 1 of its NFT gallery. The launch is the first step in a series of long-term strategic planning. This gallery launch will provide WePiggy users with interesting display space for NFT collections. Alongside the NFT gallery launch, WePiggy also launched two NFT collections namely; FlyingPiggy, and LuckyPiggy.
6. CURATE Integrates Chainlink Reliable Price Feeds
Popular oracle platform Chainlink has partnered with gasless NFT marketplace app CURATE. In line with this, Chainlink will provide its reliable price feed for the XCUR/ETH trading pair. Also, Chainlink will ensure that all NFT assets and services on CURATE are accurately priced with its secure, and reliable price feeds.
BOOM! 💥
We're working with @chainlink
✅ Marketplace NFT Pricing
✅ $CHAIN Interoperability
✅ Realtime Data Feeds
✅ X-Chain IntegrationLearn more about our BIGGEST integrationhttps://t.co/wyS9xHpCic pic.twitter.com/5DSFR5RFwK
— CURATE (@curateproject) June 9, 2021
7. Injective Labs Partnership With MDEXtech
Injective Labs last week partnered with MDEX to improve the earning abilities of INJ token holders. This will be done via INJ token staking and liquidity mining on MDEX.
🥳We are excited to announce a new strategic collaboration with @InjectiveLabs 👏👏
🔥You can now earn $MDX by staking INJ-BUSD LP tokens on MDEX’s BSC network.🔥
Full details: https://t.co/K1lniBMF6V https://t.co/LRu12Vi4dH
— Mdex.com (@Mdextech) June 9, 2021
8. dHEDGE Enters Double Partnership With SushiSwap And OxPolygon
Decentralized asset management protocol, known for linking willing investors and investment managers, dHEDGE, last week entered into a double partnership. Together all three platforms will help facilitate the launch of dHEDGE V2 launch.
#dHEDGE has partnered with @SushiSwap and @0xPolygon to provide this amazing opportunity!! 🔥#DeFi Liquidity mining with TRIPLE rewards!!!!!!! 💰🎉$SUSHI, $MATIC and $DHT! 🎉💪
The new LP pools are DHT/ETH and dTOP/ETH!
Check it out:https://t.co/pHiC7IMZBz
— dHEDGE (@dHedgeOrg) June 10, 2021
9. Cardano Plutus Smart Contract is Live
Cardano last week launched the first-ever Plutus smart contract on its Alonzo testnet. It is important to note that Plutus is the smart contract platform for the Cardano ecosystem.
"The first simple Plutus smart contract has this week been successfully run on the AlonzoBlue Cardano testnet" – learn more in June's mid-month development update https://t.co/3WEQi9hqCX
— Input Output Media (@IOHKMedia) June 11, 2021
10. Deeper Network Partnership With Cointelegraph Research
Deeper Network and Cointelegraph Research have formed a strategic partnership aimed at exploring the potentials of the Polkadot ecosystem. Polkadot has been famously described as a true competitor to Ethereum and as the network to drive Ethereum into extinction. Cointelegraph Research and Deeper Network will work together to find out if these claims are true.
We are honored to partner with @Cointelegraph to Deep Dive into the @Polkadot Ecosystem!🧐
Deeper Network is building important web infrastructure for Polkadot and will support Cointelegraph in their research report on the Polkadot Ecosystem.https://t.co/0s9aKsx0af via @Yahoo
— Deeper Network (@deeper_network) June 10, 2021
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